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The Governor of Central Bank: Shabibbi Says Raise the Value of the Dinar

carlablum

By carlablum,
in Iraq & Dinar Related News

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carlablum Newbie

carlablum

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The Governor of Central Bank: Shabibbi Says Raise the Value of the Dinar

December 19th, 2010 08:26

(Iraqi Media Network) Said Dr. Shabibi central bank governor that this year’s budget an investment budget because it focused on the size of the investment Ziada.

Shabibi said that the role of the central bank is to address the imbalance that would result from the development process that will result from changes in economic structure are basic.

He pointed out that the central bank is to achieve development in a stable monetary environment through attention to all means and policies to achieve economic stability and moderation in the environment and the normal rate of inflation moderate.

He continued: our budget relating to the conservation of its resources, is done by combating inflation. Stressing that the bank had several measures including raising the dinar exchange rate.

He pointed out that the impact of this action on the budget through the impact on the purchasing power of government, will increase by addressing inflation.

Shabibi said: that this policy will increase the confidence in dinars, which will pull some of the money to the banking sector and the rationalization of government spending because of its impact on inflation.

He indicated that this action will lead to a reduction in prices of import goods such as private sector imports and the import of the government’s development that comes from converting the Iraqi dinar to the dollar.

He added that this policy at the time weakens the government’s ability to buy the dinar, it strengthens Aldenarabraghi which is owned by the government. He pointed out that the bank wants and means to affect the economic and monetary policy by making the dinar valuable and powerful.

http://www.imnsr.com/Economy.aspx

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xxxgator Newbie

xxxgator

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Good post! This is the language from the right person that we need to hear.Incredible ! As soon as the Gov. has been officially formed and the media is quoting Shabibi on the rv....Shabibi has stated in other articles he would give the goi the rate as soon as it was formed and already he is commenting on Rv. in less than 24hr's . The best new's report ive seen on this site or any other to date imho! Go B) RV

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SaRSam Newbie

SaRSam

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Good post! This is the language from the right person that we need to hear.Incredible ! As soon as the Gov. has been officially formed and the media is quoting Shabibi on the rv....Shabibi has stated in other articles he would give the goi the rate as soon as it was formed and already he is commenting on Rv. in less than 24hr's . The best new's report ive seen on this site or any other to date imho! Go B) RV

I agree!!! GO RV!!! this is such good news!

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